, Columnist
Nasi Goreng Bonds, Anyone?
Indonesia considers selling local-currency debt on global markets.
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The Chinese made a full meal of offshore dim sum debt, and Indians have started nibbling into masala securities. Now Indonesians are contemplating nasi goreng bonds. Will investors step up to the plate?
Like the other two, this would also be local-currency corporate borrowing, but in global debt markets. Creditors, rather than debtors, will bear the risk of rupiah depreciation. Kartika Wirjoatmodjo, president director of PT Bank Mandiri, the country's largest lender by assets, told me he's exploring the option for PT Jasa Marga Persero, the operator of the Indonesian highway system.